Obama’s Keynesian failures must never be repeated

In an FT op-ed, Rep. Darrell Issa (R-Calif.) writes: “The president’s stimulus package promised … that gross domestic product in the fourth quarter of 2010 would be roughly $15,200bn. Yet the latest figures, released this month, fell short by some $400bn. … The abysmal results came as no surprise to those who knew that the Keynesian doctrine of spending your way to prosperity had been discredited decades ago.”